Jay Woods, chief global strategist at Free Capital Markets, expects US May headline CPI to rise to 4.2% YoY from 3.8%, a level not seen since March 2023. He warned that sticky components — housing, insurance and services — could keep inflation above the Fed’s comfort zone for longer, while gasoline-driven inflation is less concerning.

2026-06-09

Jay Woods, chief global strategist at Free Capital Markets, expects US May headline CPI to rise to 4.2% YoY from 3.8%, a level not seen since March 2023. He warned that sticky components — housing, insurance and services — could keep inflation above the Fed’s comfort zone for longer, while gasoline-driven inflation is less concerning.